REAL ESTATE EXAM CHAPTER 14 EXAM
QUIZZES WITH ACTUAL ANSWERS | LATEST
UPDATE .
A charge against real estate made by a unit of government to cover a proportionate cost of an
improvement such as a street or sewer is known as what...? - correct Answers -Assessment
A city, county, town or village with the authority to value real property for purposes of taxation
is known as what...? - correct Answers -Assessing Unit
A geographic area in which the market value of real estate is enhanced due to the influence of a
public improvement and in which a tax is apportioned to recover the costs of the public
improvement is known as what...? - correct Answers -Special Assessment Districts
A home that is generally unavailable during the time the client makes a reasonable effort to sell
the property is known as what...? - correct Answers -Non-homestead
A home which is owned by and is the usual residence of a client, along with all the surrounding
land and any building on that land, is known as what...? - correct Answers -Homestead
A proceeding against the reality directly, as distinguished from a proceeding against a person, is
known as what...? - correct Answers -In Rem
A property is assessed at $260,000. The local municipality has an equalization rate of 40%. What
is the market value of the property...? - correct Answers -650000
A property is assessed at $48,550. The tax rate is equal to 15.8%. What are the taxes owed on the
property...? - correct Answers -7670.9
, A property is valued at $375,000. What is the assessed value with an equalization rate of 1%...? -
correct Answers -3750
A property is valued at $515,000. What is the assessed value with an equalization rate of 10%...?
- correct Answers -51500
A SCAR proceeding is generally held where...? - correct Answers -Supreme Court Building
A SCAR proceeding is generally led by who...? - correct Answers -Appointee
A SCAR proceeding typically results in what...? - correct Answers -A written decision by the
appointee
A valuation placed upon property by a public officer or a board, as a basis for taxation is known
as what...? - correct Answers -Assessed Value
An assessment is NOT made on the highest and best use of a property but rather...? - correct
Answers -The actual condition of the property
An assessment made against a property to pay for a public improvement by which the assessed
property is supposed to be especially benefited is known as what...? - correct Answers -Special
Assessment
An assessment of tax is known as what...? - correct Answers -Levy
An assessor explains to you that the market value of your property was converted to the assessed
value using what's called an assessment ratio. The assessment ratio can also be considered
what...? - correct Answers -Equalization Rate
An equalization rate is also known as what...? - correct Answers -Assessment Ratio
QUIZZES WITH ACTUAL ANSWERS | LATEST
UPDATE .
A charge against real estate made by a unit of government to cover a proportionate cost of an
improvement such as a street or sewer is known as what...? - correct Answers -Assessment
A city, county, town or village with the authority to value real property for purposes of taxation
is known as what...? - correct Answers -Assessing Unit
A geographic area in which the market value of real estate is enhanced due to the influence of a
public improvement and in which a tax is apportioned to recover the costs of the public
improvement is known as what...? - correct Answers -Special Assessment Districts
A home that is generally unavailable during the time the client makes a reasonable effort to sell
the property is known as what...? - correct Answers -Non-homestead
A home which is owned by and is the usual residence of a client, along with all the surrounding
land and any building on that land, is known as what...? - correct Answers -Homestead
A proceeding against the reality directly, as distinguished from a proceeding against a person, is
known as what...? - correct Answers -In Rem
A property is assessed at $260,000. The local municipality has an equalization rate of 40%. What
is the market value of the property...? - correct Answers -650000
A property is assessed at $48,550. The tax rate is equal to 15.8%. What are the taxes owed on the
property...? - correct Answers -7670.9
, A property is valued at $375,000. What is the assessed value with an equalization rate of 1%...? -
correct Answers -3750
A property is valued at $515,000. What is the assessed value with an equalization rate of 10%...?
- correct Answers -51500
A SCAR proceeding is generally held where...? - correct Answers -Supreme Court Building
A SCAR proceeding is generally led by who...? - correct Answers -Appointee
A SCAR proceeding typically results in what...? - correct Answers -A written decision by the
appointee
A valuation placed upon property by a public officer or a board, as a basis for taxation is known
as what...? - correct Answers -Assessed Value
An assessment is NOT made on the highest and best use of a property but rather...? - correct
Answers -The actual condition of the property
An assessment made against a property to pay for a public improvement by which the assessed
property is supposed to be especially benefited is known as what...? - correct Answers -Special
Assessment
An assessment of tax is known as what...? - correct Answers -Levy
An assessor explains to you that the market value of your property was converted to the assessed
value using what's called an assessment ratio. The assessment ratio can also be considered
what...? - correct Answers -Equalization Rate
An equalization rate is also known as what...? - correct Answers -Assessment Ratio
